Blog > International Banking > €1000 Sent, €947 Received: Where Did the Money Go?

€1000 Sent, €947 Received: Where Did the Money Go?

INTERNATIONAL BANKING

BANKEAZ | International Team
4/09/2026 - 4 min read

EN version ↔ Version FR

You send €1000 to someone abroad.

A few moments later, they receive €947.

Nothing seems wrong. The transfer went through. No error message.

But €53 disappeared.

This is one of the most common international banking issues and a key problem in cross-border banking. The money does not vanish randomly. It is reduced by a combination of hidden costs embedded in the transfer process.

#InternationalTransfers #HiddenFees

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International Transfers

> Transfer fees are only part of the cost

Most people expect to pay a transfer fee when sending money abroad.

However, this visible fee is only one part of the total cost.

A typical international transfer may include

• sending bank fees,

• receiving bank fees, and

• intermediary bank charges.

These costs are sometimes visible, but not always fully explained.

This is why transfers often feel more expensive than expected.

> Currency conversion reduces the final amount

When money is sent between currencies, it must be converted.

The rate applied is rarely the real market rate.

Instead, banks apply a margin known as a foreign exchange spread.

According to the European Central Bank ↗, exchange rate differences and margins are a standard part of international transfers and can significantly affect the final amount received.

This margin is not always clearly shown, but it directly reduces the amount received.

This is a core mechanism in international banking ↗.

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B-Plus

> Multiple intermediaries increase costs

International transfers often pass through several institutions before reaching the recipient.

These may include:

• correspondent banks

• clearing systems

• payment networks

Each intermediary can apply its own fee.

As a result, the total cost of the transfer increases at each step.

This layered structure is a defining characteristic of cross-border banking.

> Timing can impact the amount received

Exchange rates fluctuate constantly.

If a transfer is not processed instantly, the rate applied may differ from the one expected at the time of sending.

Even small variations can affect the final amount.

Combined with fees and margins, this contributes to the gap between the amount sent and received.

> Why these costs are not always visible

One of the main issues with international transfers is the lack of transparency.

Users often:

• see only the amount sent

• do not see all intermediary fees

• do not understand the exchange rate applied

This makes it difficult to identify where the money was lost.

These hidden mechanisms are a major source of expat banking problems.

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U N I O N

> Why expats are most affected

People living across borders rely more heavily on international transfers.

They often:

• send money to family

• receive income from abroad

• operate in multiple currencies

As a result, they are exposed more frequently to these hidden costs.

This is why solutions designed for diaspora banking aim to reduce transfer friction and improve transparency.

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> A new approach to international transfers

As global mobility increases, expectations around money transfers are changing.

Users want:

• clear pricing

• predictable outcomes

• fair exchange rates

New approaches in cross-border banking aim to simplify transfers and eliminate hidden costs.

If you regularly send money internationally, you can join the Bankeaz waiting list to access a more transparent way to manage your transfers.

You live internationally. Your bank should too.

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